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Condensed Consolidated Statements of Cash Flows - PNM - USD ($)
$ in Thousands
9 Months Ended
Sep. 30, 2023
Sep. 30, 2022
Cash Flows From Operating Activities:    
Net Earnings $ 152,613 $ 165,078
Adjustments to reconcile net earnings to net cash flows from operating activities:    
Depreciation and amortization 262,557 255,808
Deferred income tax expense 10,874 15,036
(Gains) losses on investment securities (1,815) 84,104
Regulatory disallowances and restructuring costs 6,046 832
Allowance for equity funds used during construction (10,075) (9,232)
Other, net 476 1,323
Changes in certain assets and liabilities:    
Accounts receivable and unbilled revenues 972 (66,713)
Materials, supplies, and fuel stock (16,657) (6,630)
Other current assets (77,016) 3,687
Other assets (13,613) 6,676
Accounts payable (12,222) 11,845
Accrued interest and taxes 9,686 17,875
Other current liabilities 116,887 (26,082)
Other liabilities (21,980) (32,083)
Net cash flows from operating activities 412,604 427,496
Cash Flows From Investing Activities:    
Utility plant additions (807,932) (702,878)
Proceeds from sale of plant assets (Note 13) 32,654 0
Proceeds from sales of investment securities 412,574 323,251
Purchases of investment securities (423,467) (332,490)
Other, net 44 692
Net cash flows used in investing activities (811,877) (711,425)
Cash Flows From Financing Activities:    
Revolving credit facilities borrowings (repayments), net 173,500 (2,500)
Long-term borrowings 1,015,000 558,000
Repayment of long-term debt (685,000) (179,500)
Dividends paid (95,029) (89,879)
Valencia’s transactions with its owner (15,993) (12,455)
Transmission interconnection and security deposit arrangements 46,254 76,696
Refunds paid under transmission interconnection and security deposit arrangements (19,610) (50,401)
Debt issuance costs and other, net (6,528) (3,668)
Net cash flows from financing activities 402,963 288,447
Change in Cash and Cash Equivalents 3,690 4,518
Cash and Cash Equivalents at Beginning of Period 4,078 1,104
Cash and Cash Equivalents at End of Period 7,768 5,622
Supplemental Cash Flow Disclosures:    
Interest paid, net of amounts capitalized 121,876 79,246
Income taxes paid (refunded), net 1,400 904
Supplemental schedule of noncash investing activities:    
Decrease in accrued plant additions 46,452 56,948
PNM    
Cash Flows From Operating Activities:    
Net Earnings 108,404 106,855
Adjustments to reconcile net earnings to net cash flows from operating activities:    
Depreciation and amortization 150,903 161,303
Deferred income tax expense 12,041 11,762
(Gains) losses on investment securities (1,815) 84,104
Regulatory disallowances and restructuring costs 6,046 832
Allowance for equity funds used during construction (7,263) (6,793)
Other, net 2,641 2,839
Changes in certain assets and liabilities:    
Accounts receivable and unbilled revenues 15,648 (45,252)
Materials, supplies, and fuel stock (12,300) (3,809)
Other current assets (81,653) 885
Other assets (9,988) 7,958
Accounts payable (11,073) 20,308
Accrued interest and taxes 11,592 14,799
Other current liabilities 115,984 (35,503)
Other liabilities (20,451) (24,717)
Net cash flows from operating activities 278,716 295,571
Cash Flows From Investing Activities:    
Utility plant additions (424,292) (322,412)
Proceeds from sale of plant assets (Note 13) 32,654 0
Proceeds from sales of investment securities 412,574 323,251
Purchases of investment securities (423,467) (332,490)
Other, net 6 492
Net cash flows used in investing activities (402,525) (331,159)
Cash Flows From Financing Activities:    
Revolving credit facilities borrowings (repayments), net (19,000) (7,400)
Long-term borrowings 330,000 298,000
Repayment of long-term debt (185,000) (179,500)
Dividends paid (396) (85,396)
Valencia’s transactions with its owner (15,993) (12,455)
Transmission interconnection and security deposit arrangements 35,254 70,296
Refunds paid under transmission interconnection and security deposit arrangements (16,110) (41,401)
Debt issuance costs and other, net (3,769) (2,201)
Net cash flows from financing activities 124,986 39,943
Change in Cash and Cash Equivalents 1,177 4,355
Cash and Cash Equivalents at Beginning of Period 2,985 19
Cash and Cash Equivalents at End of Period 4,162 4,374
Supplemental Cash Flow Disclosures:    
Interest paid, net of amounts capitalized 46,584 37,269
Income taxes paid (refunded), net 0 0
Supplemental schedule of noncash investing activities:    
Decrease in accrued plant additions $ 30,837 $ 21,069